Rupee dwindles 3 paise, reaches 83.19 against US dollar in early trade

The rupee started the new year on a flat note and depreciated 3 paise to 83.19 against the US dollar in the morning session, amid a negative trend in domestic equities and dollar demand from importers.
Forex traders said the rupee is trading in a narrow range as the support from easing crude oil prices was negated by the strength of the American currency in the overseas market.
At the interbank foreign exchange, the rupee opened at 83.18 against the dollar, then fell to 83.19, registering a fall of 3 paise over its previous close.
In the initial trade, the rupee also touched an early high of 83.15 against the US dollar.
On Friday, the rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023.
At the start of the new year, the dollar index was stable at 101.38, and Brent oil was at USD 77.07 per barrel. Asian currencies are also very stable with Yuan at 7.1253, IDR at 15,390, KRW at 1,294.53, said Anil Kumar Bhansali, Head of Treasury and ..